Question

8 In the budget, the government also announces the ways in which it plans to meet the
1. Officials
2. Taxes
3. Expenses
4. People​

Answer 1

Answer:

A budget can be of three types:

Balanced budget: when government receipts are equal to the government expenditure.

Deficit budget: when government expenditure exceeds government receipts. A deficit can be of 3 types: revenue, fiscal and primary deficit.

Surplus: when government receipts exceed expenditure.

Explanation:

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